Presidential candidate Robert F. Kennedy Jr. is issuing a warning about central bank digital currencies (CBDC) and the threat they pose to financial freedoms.
In a new interview with Peter McCormack on the What Bitcoin Did podcast, Kennedy says that CBDCs could take away personal freedoms by allowing governments to track every aspect of someone’s spending.
“You can see why central bank digital currencies would be attractive to technocrats and to totalitarians because it gives them perfect knowledge of everything you do. Every transaction you make can be taxed. It can be kept track of, and the banks can make money on the friction from every transaction that you make. Nothing is invisible to them. And that takes away a lot of our freedom. And ultimately with central bank digital currencies, they can be programmable.”
He warns that CBDCs could be tied to things like social credit scores, giving governments the power to shut off someone’s ability to use their own money for certain reasons.
On the contrary, Kennedy says Bitcoin (BTC) is the answer to the threats that CBDCs could pose, and what he calls an “elegant solution” for transactional freedoms.
“Transactional freedom is critical and Bitcoin is the answer to that because nobody controls it. It’s this incredibly elegant solution that gives us transactional freedom and freedom all over the world…
I’m for freedom. Bitcoin is, for transactional freedom, that’s the most elegant solution.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
I
